收益现值法与实物期权相结合的企业价值评估

The Enterprise Value to Be Assessed by Its Current Income together with Its Expected Earnings

收益现值法是评估企业价值最常见的方法.这种方法虽然具有直接、有效、成熟等优点,却无法对企业由于决策变化和战略性投资所形成的潜在价值进行准确的估算.如果把收益现值法与实物期权有机的结合起来.就能从未来盈利和潜在价值的角度,对企业的整体价值做比较客观、准确的估算.

Current income is a commonly used method of assessing the enterprise value. But as a matter of fact,it can not give an accurate assess on the enterprise potential value brought forth by the policy alteration and the strategic investment although it possesses the characteristics of directness, e^ciency and maturity. Then the assessment consi fairly reasonable dering the enterprise value of its current income together with the expected earnings can give a and accurate reflection of the enterprise.